USD 0.910921841 billion
Global Angle Sensor Market Size, Share, Growth Analysis, By Type(Economic Angle Sensors, Dual Angle Sensor), By Application(Automotive, Machinery) - Industry Forecast 2024-2031
Report ID:
SQMIG40G2005 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
65 |
Figures:
77
Global Angle Sensor Market Insights
Angle Sensor Market size was valued at USD 0.910921841 billion in 2021 and is poised to grow from USD 1.1 billion in 2022 to USD 2.2 billion by 2030, growing at a CAGR of 8% in the forecast period (2023-2030).
The increase in demand for dual angle sensors, affordable angle sensors, and programming kits & boards in research & testing applications, as well as the demand for automotive and consumer applications, are both contributing factors to the growth of the angle sensors market.
In addition, the automation and robotics industries have been expanding rapidly in recent years. The market is driven by stakeholders' preferences for sustainable and energy-efficient measures, including end users. For instance, Good Fellow expanded its Green Production project in February 2021, which encourages the adoption of ecologically safe products and procedures that conserve energy and natural resources.
US Angle Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Automotive
Fastest Growth
Automotive
Growth Rate
8% CAGR
Global Angle Sensor Market 2022-2030 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Angle Sensor Market Size By Application 2022-2030 ($ Bn)
Global Angle Sensor Market Size By Application 2022-2030 (%)
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Global Angle Sensor Market Segmental Analysis
Global angle sensor market is segmented on the basis of type, application, end user, technology, and region. By type, the market is segmented into economic angle sensors, dual angle sensor, programmer kits & boards. By application, the Angle Sensor Market is segmented into automotive, machinery, vehicle testing, liftsystems. The global market can be segmented based on the type of technology used, such as magnetic, optical, capacitive, and others. The global market can be segmented based on the end-user industry, such as automotive, aerospace, healthcare, consumer electronics, industrial, and others. By region, the Angle Sensor Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Angle Sensor Market Analysis by Application
The automotive segment dominated the global angle sensor and is anticipated to maintain its dominance throughout the forecast period. This growth is attributable owing to the rising demand for high-tech vehicles from a variety of end-use industries, including the aerospace and defense sectors. They serve a number of purposes in automobiles, including brake control, gearbox control, and suspension control. Also, as angle sensors are employed in the medical industry to identify the location of the human body, demand for them is rising.
Automotive angle sensors are specifically employed in steering angle sensing (SAS) to commutate motors, measure rotor and pedal position, and operate rotary switches and incremental or absolute magnetic encoders. For instance, the angular position sensors manufactured by Infineon XENSIVTM are designed for high-speed systems operating in harsh environments, delivering the highest levels of functional safety and dependability in a variety of automotive applications. As a result owing to rising adoption of angle sensors in consumer and industrial applications the demand for the product is anticipated to propel over the forecast period.
Global Angle Sensor Market By Application, 2022 (%), 2023 (%)
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Global Angle Sensor Market Regional Insights
Asia Pacific region dominated the global market in 2022 and is expected to maintain its dominance throughout the forecast period. The market is growing as a result of expanding industrialization and rising spending in R&D projects for the creation of novel products. Also boosting the regional market will be rising vehicle manufacturing in nations like China, Japan, India, and South Korea. It is projected that these regulatory standards will compel firms to use industrial equipment, such as lifts and elevators, machinery, trucks, etc.
Manufacturers of angle sensors are moving their production facilities from one country to another. This change is a result of rising manufacture costs of angle sensor used in automotive application. Producing in a low-cost nation lowers component costs and expands the market. Offshoring also benefits from the expanding market expansion in that particular area. For instance, the Japanese automaker Denso Corporation has started its manufacturing operations in India.
Global Angle Sensor Market By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
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Global Angle Sensor Market Dynamics
Angle Sensor Market Drivers
Rising demand from robotics and automotive industry to drive market growth
- To provide accurate angle measurements in the robot joints, magnetic angle sensors, in particular position sensor ICs, are the optimal option. These sensors are crucial in enabling the future generation of autonomous robots to have similar human-like limb mobility and fine joint motor control.
- When compared to traditional rotational measurement methods, the magnetic angle sensor's preference rate is higher since it is a low-cost and low-power option. Also, it provides the high refresh rate that many end users want. As a result, the market for magnetic angle sensors is growing due to the rising demand from the automation and robotics industries.
Angle Sensor Market Restraints
High cost of operation may hinder market growth
- Expanding their manufacturing capabilities, producing goods of better quality, and reducing overall production costs are the major challenges facing companies in this sector. Thus, one of the key inhibitors for the global angle sensor market is rising operating expenses. Also, manufacturers from many regions and industries are investing heavily in boosting their manufacturing infrastructure through the use of fully automated machine tools, which fuels the rapid growth in demand for position sensors.
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Global Angle Sensor Market Competitive Landscape
Almost 50% of the market share is held by the top 6 competitors. To acquire a competitive edge in the industry, these market players are engaging in partnerships, mergers and acquisitions, and expansions. For instance, Allegro MicroSystems introduced ATS17051 in November 2019. It is a gear tooth sensor ICs that is intended to provide incremental position for traction motors in electric vehicles that run at up to 30 000 RPM. Some of the prominent players in the angle sensor market includes:
Angle Sensor Market Top Player’s Company Profiles
- Infineon Technologies AG
- NXP Semiconductors N.V.
- TE Connectivity Ltd.
- Allegro MicroSystems, LLC
- AMS AG
- Honeywell International Inc.
- MTS Systems Corporation
- Methode Electronics, Inc.
- Renishaw plc
- ams AG
- Novotechnik U.S., Inc.
- Balluff GmbH
- Sick AG
- MTS Sensors Technologies
- Vishay Intertechnology, Inc.
- iC-Haus GmbH
- Bourns, Inc.
- Elmos Semiconductor SE
- Cyntec Co., Ltd.
- Hella KGaA Hueck & Co.
Angle Sensor Market Recent Developments
- In 2022, Along with Continental AG, Nexteer Automotive has enhanced its two new software features that offer backup safety layers for all Electric Power Steering and Steer-by-Wire system variations and for all driving automation systems (levels 1 – 5).
- In 2021, In order to meet the needs of a number of OEMs, Nexteer Automotive has announced the addition of its new modular column-assist EPS system (mCEPS) to its electric power steering (EPS) line. The enhanced noise, vibration, and harshness (NVH) performance and smooth, precise steering feel provided by Nexteer's high-performance torque and rotation angle sensors enable drivers to feel more a part of the road.
Global Angle Sensor Key Market Trends
- The need for steering angle sensors has increased as a result of the automobile industry's recent change in focus to technological advancements like electrification and autonomous driving. At the same time, the tendency of manufacturers to incorporate angle sensors into automobiles indicates that the market will expand.
- The growth and development of advanced steering systems are regarded as being significantly influenced by the adoption of strict fuel economy standards by the government and global safety regulations. Electric power steering (EPS) systems that have several steering sensors offer the driver additional safety advantages.
Global Angle Sensor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global angle sensor market analysis, the need for high-speed precision machine control and measurement in manufacturing operations is anticipated to open up new growth opportunities. It is predicted that the development of enhanced driver assistance systems will boost market growth through the expansion of active vehicle safety.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 0.910921841 billion |
| Market size value in 2031 | USD 2.2 billion |
| Growth Rate | 8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Angle Sensor Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Angle Sensor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Angle Sensor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Angle Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Angle Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Angle Sensor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Angle Sensor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Angle Sensor Market Report Snapshots
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